Fannie Mae Energy Improvement Feature, Whither Art Thou?

Late last year Fannie Mae rolled out a new product, its Energy Improvement Feature (EIF).  The EIF replaced the Energy Efficiency Mortgage.  On paper, the EIF seems to be a significant improvement, allowing up to 10% of the completed appraised value of the home to be for energy upgrades, up from the previous 5% cap.  So far, lenders in Arkansas seem clueless about the new program.  Is there a problem with the EIF, or a problem with Fannie Mae's promotion of the program, or what?  These refinance transactions should be flying off the shelf.  Clues, ideas, personal experience?

Views: 85

Reply to This

Replies to This Discussion

Given the paltry penetration of federal products over the years - FHA wrote only 1,006 EEMs in 2007 - poses at least two possible interpretations.  The Feds are removed and unable to effectively drill down to localities and/or these programs are merely window dressing to convey the impression they are making a contribution they are, in fact, not really that keen on.

Dorian, thanks for the feedback.  You may be right about the Fed lack of interest.  What struck me about the new Fannie Mae instrument is that lenders don't know about it.  In business, if you roll out a new product, you market the hell out of it, right?  If you want to be successful, that is.  I first learned about the Energy Improvement feature from RESNET about 5 months after the program was introduced.  I made contact with some bankers and lenders, and it was news to everyone I spoke with.  How hard is it to send an e-mail blast to your clients?  Fannie Mae could have made that program national news if they half tried. 

If anyone has actually used this Fannie Mae instrument, I would love to hear about it.

RSS

Featured Forum Discussions

Too many BTU's. Too much horsepower?

Started by Steve in General Forum. Last reply by Eric Kjelshus on Saturday. 4 Replies

Stack/wind pressure and flow networks.

Started by Daniel James Grundy in Training. Last reply by Daniel James Grundy on Thursday. 5 Replies

BDT with vermiculite in hollow CMU walls?

Started by Brad Cook in General Forum. Last reply by John Nicholas on Thursday. 2 Replies

Strange IR Image

Started by Larry Nissman in General Forum. Last reply by Brad Cook Mar 9. 7 Replies

Videos

  • Add Videos
  • View All

Latest Activity

Mike Rogers replied to Quinn Korzeniecki's discussion Don MacOdrum Receives BPI's 2017 Tony Woods Award and Four Others Inducted in to Hall of Fame in the group Building Performance Institute (BPI)
"Congratulations to Don! A deep thanks for the honor--and even more thanks to the many who've…"
2 hours ago
Mike Rogers joined Building Performance Institute's group
Thumbnail

Building Performance Institute (BPI)

BPI is the nation's premier standards development, quality assurance and credentialing organization…See More
2 hours ago
Horace Douglas Hunt, Jr. replied to eric anderson's discussion Energy auditing equipment for sale in the group Energy Auditing Equipment for Sale, Trade or to Purchase
"Have you sold this or still interested in sales of this equipment?"
5 hours ago
Charles Maier is now a member of Home Energy Pros
13 hours ago
Derrick Brodanex joined allen p tanner's group
Thumbnail

Energy Auditing Equipment for Sale, Trade or to Purchase

Discuss the pros and cons of the equipment you are interested in prior to purchase. Post equipment…See More
yesterday
Eric Kjelshus replied to Steve's discussion Too many BTU's. Too much horsepower?
"Its more about run time with high RH removing, than to large over sized AC unit, in houses.  …"
Saturday
Sarah OConnell posted a blog post

Crowdsourcing for Innovation

Share Your Ideas!Novel Building Envelope Design for Increased Thermal PerformanceIn 2014, more than…See More
Friday
Colin de Paor is now a member of Home Energy Pros
Friday

Home Energy Pros

Welcome to Home Energy Pros – the unique digital community by and for those who work in the home energy performance arena.

Home Energy Pros was founded by the developers of Home Energy Saver Pro (supported by the U.S. Department of Energy) and brought to you in partnership with Home Energy magazine.  Home Energy Pros is sponsored by the Better Buildings Residential Network. Please honor our Guidelines

© 2017   Created by Lawrence Berkeley National Laboratory.   Powered by

Badges  |  Report an Issue  |  Terms of Service